Property Overview: 688 Ashburn Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 688 Ashburn Street in the Minto neighbourhood is a classic, early-1900s residence that presents a clear value-oriented opportunity. Its key characteristic is its modest scale, with 778 sqft of living space on a 2,566 sqft lot, making it a more compact option compared to area averages. The assessed value of $200k is notably below the averages for both the street and the wider city, suggesting a potentially accessible entry point into the market.
The appeal lies in its position as a pragmatic, lower-footprint property. It suits first-time buyers or investors seeking a straightforward, lower-value asset in a central Winnipeg neighbourhood. Its recent sale history indicates steady demand. A thoughtful perspective is that its older vintage (built 1909) offers character not found in newer builds, but it also means prospective buyers should be prepared for the maintenance nuances of a century-old home. It’s a property for those who prioritize location and value over size, and who see potential in a home that is functionally average for its immediate street but stands out as a more affordable option in the broader city context.
Section 2: Frequently Asked Questions
1. Is the assessed value the same as the market price?
No. The assessed value of $200k is for municipal tax purposes. The market price is determined by current buyer demand, recent sales (like the 2024 sale in the $200k-$250k range), and the home's condition.
2. What does the living area ranking mean for daily life?
Ranking in the top 66% on its street but below city averages means the 778 sqft size is fairly typical for Ashburn Street but compact by Winnipeg standards. It’s suitable for individuals, couples, or small families comfortable with efficient use of space.
3. Are there concerns with a home built in 1909?
Potentially. While offering charm, a 117-year-old home may have outdated electrical, plumbing, or insulation. A thorough inspection is essential to understand the condition and any needed updates, which should be factored into your budget.
4. How does the lot size impact future plans?
At 2,566 sqft, the lot is around average for Minto. It provides adequate outdoor space for a garden or patio but may have limitations for significant expansions or additions, depending on local zoning bylaws.
5. Why is the city-wide assessed value average so much higher?
The city-wide average (around $390k) includes many newer, larger homes in suburban areas. This property’s value is more aligned with its older, central neighbourhood, highlighting the significant price variation across Winnipeg’s different communities.